New Sweden was the first European settlement in modern day Delaware. It was founded in 1638 by a group of Swedish settlers sponsored by the New Sweden Company and led by Peter Minuit. Peter Minuit was the Dutch colonial governor of New Ampsterdam. He is mostly remembered for his purchase of Manhattan Island for a measly 60 guilders' worth of trade goods. New Sweden was geographically close to modern day Wilmington, DE. The New Sweden Company would be worth about $500,000 in today's currency.